All articles by Fred Crawley
Fred Crawley
Econocom in talks to buy ECS Group
Socit Gnrale (SG) is in negotiations with business technology services provider Econocom, over the possible sale of the banks technology finance and services subsidiary, ECS Group Econocom has so far pitched its bid for the group at 210 million, and will finance this through 120 million of acquisition debt financing, 30 million of Econocom share issued to Socit Gnrale, 50 million of bridge financing (to be reimbursed with a later equity raise) and 10 million of cash from its own balance sheet.
Bond issue and new offices keep Grenke booming
The Grenke Leasing Group has announced a new business volume of 325.6 million for the first six months of 2010, some 42.5 percent greater than 2009s corresponding H1 volume of 228.5 million. Based on the strong result, the group has revised its new business target upward, hoping to achieve a 20 percent increase on 2009s total
Axis Leasing reaps benefits of cycle to work scheme
While the broker market of the last two years has been weathered most successfully by introducers holding fast to long-established business niches, meaningful growth has only been seized by those with the ability to innovate at the same time. Although the Carmarthenshire intermediary has been underpinned by its focus on sales aid for IT assets, it has been the development of vendor programmes for the governments Cycle to Work scheme that has really helped the company in 2010.
Auditor moves to stop fraud in vehicle dealerships
Richard Jewitt, head of the vehicle audit division of Orpington-based OCS Inventory and Audit Services, works with 22 major funders, visiting dealerships to police their practices on the funders behalf, and is setting up the user group as part of a bid to help protect clients from being taken for a ride.
Going through their partners
While print giant Heidelberg achieved sales of only 2.3bn in its 2009-10 financial year, some 23% down on previous figures, its finance division, Heidelberg Financial Services (HFS), has enjoyed a largely invisible success.
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Determining value
Rick Daubenspeck, the national director at BDO Valuation Advisers, an international firm specialising in the valuation of fixed assets, talks to Fred Crawley about the growing demand for third-party review of leased asset portfolios. Leasing Life (LL): In the context of an overall deterioration in customer credit quality, how have considerations of asset value become more important to lessors looking at new transactions?
Hypo MD confirms sale of leasing companies
Hypo Group Alpe Adria (HGAA) CEO Gottwald Kranebitter has confirmed to Leasing Life his network would be prepared to consider offers from parties interested in buying five of the groups leasing subsidiaries. The recently nationalised Austrian bank, seeking to cut its balance sheet in line with an EU restructuring mandate, is trying to find buyers for leasing subsidiaries in Bulgaria, Hungary, Macedonia, Germany and Ukraine territories where the group has no core retail banking infrastructure to fall back on.
Smaller funders think big
UK leasing appears to be getting back on its feet with the news that three leasing companies are not just reporting healthy profits, but also showing a willingness to diversify and embark on exciting international projects
Hypo CEO confirms 5 subsidiaries up for sale
Speaking to Leasing Life this week, Hypo Group Alpe Adria (HGAA) CEO Gottwald Kranebitter confirmed that his network would be prepared to consider offers from parties interested in buying five of the groups leasing subsidiaries The recently nationalised Austrian bank, seeking to cut its balance sheet in line with EU restructuring demands, is trying to find buyers for leasing subsidiaries in Bulgaria, Hungary, Macedonia, Germany and Ukraine territories where the group has no core retail banking infrastructure.
New broker wins office space from chamber of commerce
New lease brokerage North West Finance has been awarded a years free occupancy at premises held by St Helens Chamber of Commerce (SHCC), after winning the Chambers Enterprise Greenhouse competition. SHCCs Enterprise Greenhouse initiative provides new businesses with a chance to grow in low-cost premises, and is funded by the Local Enterprise Growth Initiative.